The European Bank for Reconstruction and Development (EBRD) has financed a Moldovan rail terminal.
The bank provided a loan of US$12mn for the Danube Giurgiulesti International Free Port which straddles the borders of Moldova, Romania and Ukraine at the confluence of the Danube and Prut.
The loan has been made to the port owner Danube Logistics and will be used to construct a new gauge rail terminal which will facilitate regional trade. The port is a free economic zone and a hub for oil, grain, vegetable oil and general cargo – the only hub of its kind in Moldova.
The construction of a rail terminal will connect the port to other terminals that handle the likes of coal and dry goods. The aim is to increase efficiency for Moldovan exporters.
Sue Barrett, the EBRD’s infrastructure director, says: “Rehabilitation of the infrastructure in Moldova is an investment priority for the bank. This project will help implement a major programme to support the ever-increasing potential and demand for river and maritime trans-shipment services. The port already plays a big role in offering a tri-modal transport infrastructure, a low cost environment and a unique customs and tax regime due to its free economic zone status.”